Comment by berkes

> of being able to exchange it if needed

yes. But my point is that "being able to exchange it" is what gives all assets value. From gold, via bonds to dollars.

So 1) this isn't unique to crypto and 2) we should avoid narrowing this definition to "exchange crypto for dollars" because that's not true today and possibly even less in future - if only because there are other currencies already. Exchanging it for goods (i.e. buying stuff) is a killer feature of crypto only in very small niches. And exchanging it for other valuable assets isn't common either (yet? I doubt it, but don't see clear reasons why not)